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. [ sniffles ] ♪ >> harris: breaking news now on the fox report and the pentagon confirming to fox news that retired general norman schwarzkopf has died. he commanded the coalition that pushed saddam hussein's forces out of kuwait in 1991. bob scales on the phone with us now. general scales you wrote a book called certain victory and you have a lot of knowledge of the history of the iraq war but personal knowledge with this man. you call him truly the first great american hero after vietnam. your thoughts? >> that is exactly right, harris. remember, i come from the same generation as general schwarzkopf and the vector was the vindication of my generation report vietnam generation because it was our first great military victory after defeat in vietnam and he took that personally. i knew general schwarzkopf well, going back to his time as a major in the pentagon. he also carried in his sack this rock that had the sigma that went with the defeat in vietnam. when defeated the iraqi military in the plains of iraq, when was able to do that one of the first things he said at the truce tent was
part of some last-second deal. hit the defense department. but the pentagon's real problem is not those cuts, but the ones that are going to be coming over the next decade. we talked to military contractors, top officials at the pentagon. they see a long period of downward decline. that after the war in afghanistan, there's going to be a period of austerity. they're calling it -- they have a term around the pentagon, a very graphic self-amputation as they cut back over the years. and this was one of the reasons that president obama had, at the top of his short list, the former republican senator, still a republican, chuck hagel of nebraska. he's somebody who's talked about the pentagon as being bloated, had very specific ideas about how to cut it. but mike, sam, the table, we're hearing that that trial balloon has been popped. that senator hagel has a possibility for secretary of defense, has really lost a lot of altitude. and what they discovered was, there's not a natural constituency for him. republicans, as you guys know, have fought with him over the years. he was against the war i
they go to washington, it is not an act of philanthropic on the pentagon -- and at the plant for be on the pentagon fell apart -- it is not a philanthropic act on the pentagon's part. the united states federal government -- unless europe is dollar rise, unless they do not have dollars to spend purchasing the net exports of those who have surpluses, then they will stop having surplus. this is the surplus recycling mechanism. thus, we have the 20 years of the golden age. a period of immense stability very low inflation. universal growth. we had other problems. the lease from the macroeconomic point of view, it was a golden age. why is that? because the global surplus of recycling mechanism was sustained. why? because the united states stopped having a surplus by the end of the 1960's. how can you recycle surplus if you cannot have it. well, paul volcker -- been named may ring a bell. in 1971, paul volcker was an unknown working for another american. henry kissinger, who you may have heard of. before he became secretary of state. volcker's paper, which are when i read a few year
that preparation before running into the pentagon and he has done a is he person job. very tough job. even he said that we face some dire devastating times ahead if sequestration goes ahead. chuck hagel seems to think that we can cut, quote, more the bloat out of the pentagon. there probably is some over there. but you need to understand the system right, given of the republican opposition i don't know that the president gets a lot of credit for bipartisanship. more likely the cuts that they agree on. lt. colonel bob maginnis thanks so much we appreciate it. >> thanks, dave. >> small businesses set to take big hits in 2013. that could take an effect on your wallet. we'll explain next. my pet chicken just saved my life. how this hero bird came to the rescue of an entire family. and that's not even the coolest part of this story. i'm sticking around. mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because offers a superior level of protection, and because usaa's commitment to serve
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